Cease on a Dime! BitTorrent (BTT) Longest Airdrop in History Ends after Just One Year

The peer-to-peer transfer protocol BitTorrent suddenly announced on June 13 that it would end the airdrop of BTT tokens to Tron (TRX) holders. The foundation claimed that it would retain all remaining BTT tokens and distribute them as rewards to the BitTorrent community to encourage users to participate in distributed file storage, uploading, and transfer activities.

The Longest Airdrop Comes to an End

BitTorrent (BTT) was the first project to kick off the trend of Initial Exchange Offering (IEO) on Binance last year. According to an announcement by the BitTorrent Foundation in January 2019 here, the airdrop was supposed to continue for TRX and BTT holders until 2025. However, after 16 rounds of airdrops, it was suddenly halted.

In an announcement on their official blog, BitTorrent stated:

The purpose of the airdrop was to provide more utility to TRX holders and to encourage BTT holders to increase download and upload speeds through the BitTorrent protocol. After 16 rounds of airdrops, BitTorrent now has 12 million active users per month. Following discussions with community representatives, the community believes that the airdrop's objectives have been achieved, and therefore, it will be terminated immediately.

The tweet from the BitTorrent team reads as follows:

740 Billion BTT Tokens Reserved for BitTorrent Community

Currently, the total supply of BTT is 990 billion, with 999.9 billion planned for airdrops. The previous 16 rounds have distributed 25.987 billion BTT to TRX holders. The BitTorrent Foundation promises that the remaining 740 billion BTT tokens will be used to reward global users for their participation, stating:

All reward details will be transparently disclosed and cannot be tampered with. Specific details will be announced soon.

The Tron community has had mixed reactions to this news. Some have accepted and welcomed it, believing it will have a very positive impact on the price of BTT, while others feel that the execution was too quick without prior notice. User @JonJimbo2 expressed:

You planned airdrops for the next 4 years, and then, just a year later, you announced the end of the airdrops without any warning. Justin Sun, your reputation is getting worse.

The BTT token did not have a significant reaction, with a 2.5% decrease in the past 24 hours. However, since the first airdrop in 2019, BTT has dropped by approximately 68.7%, which may be a contributing factor to the project's inability to sustain. Justin Sun himself has not provided any explanation for this event and continues to celebrate the issuance of the USDT TRC20 version reaching a market cap of $2.7 billion on Twitter.